Seven of ten sectors moved higher on Wednesday …XLE, XLF and XLB were the strongest
sectors while XLP was the weakest sector. Oil futures rose .57
to close
at 51.67.
Breadth weakened
slightly
as advancers
led 2,132 to 908 on
the NYSE and led 1,634 to 1,093 on the NASDAQ.
Wednesday
– weakened slightly, advancers led, +7
Tuesday –
strengthened, advancers led, +10
Monday – weakened, decliners led, +3
Friday – strengthened, advancers led on the NYSE, +5
Thursday – weakened, decliners led, +4
SPY up .57
at 214.28 on 66.5 million shares, 34%
below average volume
VIX down .87
at 14.41
TLT up
.11 at 132.97…on 6.9 million shares, 19% below average volume
Technical Commentary:
IWM +0.42%, DIA +0.35%, SPY
+0.27%, QQQ -0.01%,
SPX/SPY
opened higher on strength in oil/energy and financial stocks. VIX closed
lower and did confirm Wednesday’s gain.
SPX Leaders: FSLR, RIG, KORS, DO, HAL, MUR, CBG, NFX, BWA, DAL, GT,
FLS, CMA, NRG, UAL, FITB, AAL, TSCO, MRO, FCX, CHK, CF, ZION, CMG, RF, DOV,
EBAY, APA, WMB, WYNN, HES, PXD, OXY, IP, COP, KMI, NFLX, WHR and DVN
Dow stocks AXP, V, NKE,
GS, JPM, TRV and CAT lead DIA higher
on Wednesday.
QQQ
flat from losses in INTC, ISRG, STX and EA which offset gains in AAL, TSCO, NFLX,
YHOO and TSLA.
Institutional
activity continues to indicate that
last quarter’s trend on stock selectivity based
on quarterly results as opposed to industry or sector rotation is a primary driver of price action.
So far the real determinate to market movement this week is the
institutional reaction to earnings announcements.
After the close:
AXP +3.35, +5.47% beat on eps of 1.20
vs. 0.96 estimate and revenue.
URI +3.92, +5.19% beat on adj. eps
of 2.58 vs. 2.44 estimate.
CTXS +4.69, +5.43% beat on eps of 1.32
vs. 0.97 estimate.
LRCX +2.26, +2.27% beat on eps of 1.81
vs. 1.77 estimate.
MAT +1.83, +5.98% on eps of 0.70
vs. 0.70 estimate, beats on revenue.
EBAY -2.60, -8.00%, beat on eps of .45 vs. .36 estimate, weak
holiday season guidance.
Earnings Announcements
Monday - BAC, HAS, NFLX, IBM, UAL
Tuesday – GS, HOG, JNJ, UNH, ISRG,
INTC, LLTC,
Wednesday
– HAL, MS, STX, USB, AXP, URI, CTXS, EBAY, LRCX, MAT, TSCO, XLNX, STLD
Thursday
– ALK, NUE, TRV, AAL, WBA, MSFT, MXIM, PYPL,
Friday
– GE, HON, MCD, MCO, STI, SWN
EPS Positive Reactions
HAL,
MS, USB, NFLX, HOG, UNH, GS, CE, DPZ, CMA, UAL, HAS, DAL, CSX, COST, RHT, FDX,
ADBE
EPS Negative Reactions
INTC,
ISRG, ST, JNJ, IBM, AA, FAST, ILMN, MU, PAYX, CCL
EPS Neutral Reactions
LLTC,
BAC, C, JPM, PNC
Consider
moving up stops on short term bullish trades that
could pull back. All according to your profit protection rules.
Remember
breakouts typically test about 70% of the time.
Technical analysis based trades should be closed before earnings. After-hours
Trade
what you see, not…
Stocks below support should generally be traded bearishly until a reversal pattern forms.
______________________
Strong Stocks: Setups and Moves You Can Use
Bull Flag Setups include: ULTA, WB, AAPL, AMZN, NXPI, SWKS, WDC, LITE, CCL, FL,
CSX, QCOM
Bull Flag Bounces include: JPM, STI, ZION, MS, UAL, RCL, LVS, ETFC, DVN
Horizontal Breakout Setups include: SCHN, STLD, X, STI, ZION,
MS, BAC, C, UAL, DAL, DO, RIG, WRK, APA, NFX, ADBE, CTRP, NCLH, SCHW, ADSK,
LRCX, HAS, MLM, DISH, JBLU, SE, CHK, SOXL, NVDA, CAVM, HA, AKS, WHR
Horizontal Breakouts include: FSLR, SAVE, SCHN, AKAM,
AAL
New Highs include: NTES, LUV, ALK, EXPE, NFLX, DPZ, CMA, CE, GS, GOOG,
SCHN, HAL
______________________
Trade with the trend of
the chart you are trading and
continue to move your profit protection stops. Continue to follow your rules.
The SPY MFC green line is pointed up at
30, bullish.
60 of 100
NDX stocks closed higher and one
unchanged on Wednesday.
43
NDX stocks are above their 30 DMA.
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 9
EBAY, ESRX, FB, MAR, MXIM, PCLN, PYPL,
TSLA, WFM
Moving Below 30 DMA = 7
ATVI, INCY, INTC, ISRG,
KHC, MU, ROST
6-month Intermediate
Term Market Trend: Up
3-day Short Term Market
Trend: Up
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